French Insurers End Long Legal Feud Over Failed Takeover
Law360, London (June 11, 2021, 5:01 PM BST) -- French reinsurers Scor SE and Covea Group have reached a settlement ending their bitter three-year legal battle after a planned €8.2 billion ($9.9 billion) takeover soured, announcing their intention to resume "peaceful relations" as Covea sheds shares in its rival.
The deal, announced late Thursday, sees Covea offload its shares and pay Scor €20 million as the sides abandon their wide-ranging legal war over the failed takeover attempt.
The peace pact is intended to restore normal business relations between the companies, which will not have to admit fault as part of the settlement, they said in a statement. The deal will apply...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!